So this is just a continuation of the previous idea, and the charts I've been posting in the comments underneath. The first idea got invalidated when BTC began a long impulse cycle down to 7.2k. And, as we have seen in the past, particularly in this zone, Lisk has been prone to some pretty brutal sell offs. From a Fundamentals standpoint, this does not make much sense. Lisk is one of the most legit blockchain projects out there, with a very active community of developers/delegates and a respected presence on GitHub. Furthermore, we can see with all the hype around EOS, that DPOS is becoming a big deal. Of course, with all these very new systems of consensus, comes growing pains and obstacles. But Lisk has a pretty solid roadmap, with some clear milestones coming up this year. Not to mention it's premise of accessibility and ease of access to blockchain tech for developers (javascript), and an academy for blockchain development... Regardless of fickle market ups and downs, I believe Lisk is a solid long term hold/investment. Remember, it wasn't that long ago that Eth was under $15.
Again the disclaimer. Charts present possibilities, not certainties. There is risk involved. This is not professional advice.
Again the disclaimer. Charts present possibilities, not certainties. There is risk involved. This is not professional advice.
Comment:
So, as the alt market is still beholden to btc, we see price reacting to its movement, sometimes with exaggeration. When i first drew it up, I didn't have these gann rays ticked. Look at the touches when they are visible. The chart is still theoretically valid.. The AO on the 1h chart looks like it will test zero line support, and probably dip below. This is common and normal during a wave 2 phase...Finally, I have adjusted the position of 3 4 and 5, a less inclined path to the typical wave ratios..
Comment:
lets see if this plays out :popcorn: